The following statement was issued by the Progressive Liberal Party in response to the FNM Government passing the Rate Reduction Bond Bill. This Bill when it becomes law will be facilitate the Bahamas Power and Light Company to borrow 650 million dollars. Three hundred million to reschedule the debt of the former Bahamas Electricity Corporation and another three hundred and fifty million dollars to purchase new equipment for BPL. The Bahamian Public is to pay by an additional levy of 30 dollars per account per month. The PLP objected:
On The Passage of The BPL Rate Reduction Bond
For Immediate Release
28 November 2019
The FNM Government led by Hubert Minnis passed today over the objections of the PLP the Rate Reduction Bond Bill for Bahamas Power and Light. The FNM must be condemned for taxing the poor with this bill.
We know that under this Bill the people of Bain Town will be charged the same levy as the people of Lyford Cay for the supply of electricity.
The Prime Minister has promised to make an announcement about this after being shamed by the PLP in the House of Assembly.
The proposed additional charges that will result from this FNM bill are estimated at 20 dollars to 30 dollars per month per electricity account on top of your existing bill. This is not what the PLP proposed. Under the PLP’s plan the smaller users of electricity would have seen virtually no increase at all. In fact many small users would have seen a decrease in their monthly Bills.
Under the Minnis plan whether you burn power in a mansion or a small house the additional charge will be the same. This means the poor will bear the burden for the rich.
We will see what the Prime Minister proposes to do now that he has been told about it. He should not commit yet another breach of his commitments made to the people in the last campaign.